“Over the past several months, Cambridge Analytica has been the subject of numerous unfounded accusations and, despite the company's efforts to correct the record, has been vilified for activities that are not only legal, but also widely accepted as a standard component of online advertising in both the political and commercial arenas.

"Despite Cambridge Analytica's unwavering confidence that its employees have acted ethically and lawfully, the siege of media coverage has driven away virtually all of the company's customers and suppliers.

"As a result, it has been determined that it is no longer viable to continue operating the business."